Yang Yuanqing, a member of the CPPCC National Committee and president and CEO of Lenovo, talks to media in Beijing, on Mar 3, 2017. [Photo/VCG]

Yang Yuanqing, president and CEO of Lenovo

Keywords: Real economy; educational resources; schoolchildren's meals

The shift from real economy to virtual economy is happening because the former has much lower returns than the latter. And also because the real economy faces overcapacity, difficult financing, and heavy costs. China's manufacturing sector is experiencing the growing pains of structural transformation, as low-cost competitiveness is losing its advantages and new competitiveness has not yet developed.

To solve the problem, we need to reduce cost, deflate asset bubble and cool the overheating virtual economy, as well as carrying out the supply-side reform, developing new technologies, new products and new markets and strengthening real economy's competitiveness.